ECONOMIC CITIZENSHIP NORTH MACEDONIA (over Article 11)
Under the law of Ministry of foreign affairs of article 11 can a foreigner who meets the requirements referred to in Article 7 paragraph 1 points 1 and 8 of this Law, acquire citizenship of the Republic of Macedonia by naturalization if this is of special scientific,
economic, cultural, sports or other national interest. The Government of the Republic of Macedonia shall, by a decree, determine the criteria for special scientific, economic, cultural, sports and other national interest for the purpose of acquiring citizenship, in terms of paragraph 1 of this Article.
Macedonia is very interested and popular for People! It is since 2005 a EU Joining candidate and will go now very soon in around 2023/24 as a full member in the EU, will also this year a NATO Member.
Following the success of the new president, Zoran Zaev, since the last elections in 2018, the newly named country of North Macedonia has become a paradise for investors in Europe, which has already been one of the strongest tourist attractions in the former Yugoslavia.
The former Yugoslav Free State of Macedonia is a mountainous country (25,713 km ² with 2100300 citizens) in the center of the Balkans, it connects highways to Europe, the Middle East and Asia and is therefore perfectly strategically located. The capital, Skopje, with more than 700,000 citizens, is one of the most important financial centers in North Macedonia, which has achieved a positive economic growth rate of 2-4% in recent years, and is with its advanced infrastructure and government-issued tax privileges extremely attractive investor region. According to the Doing Business 2016 study, Macedonia is among the ten best economies with a favorable business environment and just behind New Zealand as the second largest economy. The financial reforms have paid off, because just six years ago, Macedonia ranked 94th in the ranking.
WHY YOU HAVE TO BUILD A BUSINESS, ONVESTING IN NORTH MACEDONIA ?
Citizenship is an extremely polarizing subject. Many people incorrectly think that a second passport is illegal. This is a myth. Ignorance, and nationalistic indoctrination, has perpetuated a stigma that somehow obtaining a second passport is “grey”, or outright illegal across the world. Plenty of people have dual citizenship, and you can do. So your next question will be: How to get a second passport? The quickest and most direct path to a second passport (no matter who your parents are, where you are born, or where you live) is through an officially recognized citizenship by investment scheme, maybe there will be a Macedonia Citizenship Program in the future. Another option to get Macedonia second citizenship is Citizenship by Residency. Almost all developed countries have laws in place whereby a long term resident can become a naturalized citizen after a certain period of time.
Because dual citizenship is complex and the rules and laws regarding citizenship vary from one country to the next, be sure to consult with qualified experts, including tax accountants and experienced citizenship lawyers.
GCI - Global Citizenship Investment
Investment opportunities in the Former Yugoslav Republic of Macedonia, Today "North Macedonia".
"North Macedonia is the paradise for investors in Europe" was the campaign initiated by the state in 2014 to attract immigrants to the former Yugoslav Republic of Macedonia. The converted instruments were:
Facility relief ("one-stop shop order" for business registration within 4 hours).
Implementation of a tax reform that has set corporate income and income tax rates at 10%.
Legally full exemption of returns on re-investment in tangible and intangible assets in business development and development of technological development zones.
Earned income from the sale and distribution of direct investment units can be transferred abroad.
Exemption from corporation tax for 10 years and income tax reduction of 5% for 5 years for specific assets.
Lifting of VAT and customs duties on raw materials and armaments.
Macedonia has a stable macroeconomic situation. Government forecasts assume that GDP will increase by 2.3% by 2017 and prices rise by 1%.
The Republic of Macedonia is strategically located between two European transport corridors. Liberalized foreign trade policy, unrestricted access to the EU, CEFTA, Turkey and Ukraine, a well-developed road and rail infrastructure and low labor costs make the former Yugoslav Republic a competitive industrial producer between Asia and Europe in the clothing, food and automotive industries.
The clothing industry in Macedonia exports mostly to the European Union. The production is 93% aligned by the CMT system (uppercut, make & trim). Short delivery times, the potential to produce small orders at the same price level as large orders, the high level of operating procedures, as well as a developed infrastructure and logistics are just a few of the various competitive advantages.
One of the most promising industries is the food and beverage industry, which is dominated by livestock through vegetable, cereal and tobacco cultivation. Most of the goods exported in 2005 were tobacco (35%), wine (15%), vegetables (10%) and lamb (5.7%).
Macedonia offers an optimal location for the automotive industry. From a geographic perspective, proximity to European and Middle Eastern markets enables low sales and delivery costs for just-in-time products.
With American and Western European firms increasingly interested in outsourcing IT and software processes, exports in these areas are among the fastest-growing sectors characterized by low labor costs, highly skilled human resources, and tax and operational benefits.
Invest money in real estate
Non-resident private individuals and organizations are entitled to acquire houses and buildings with the prerequisite of mutual consent and with the consent of the Ministry of Justice. Natural and legal persons who come from abroad have the option of owning or renting land (up to 99 years), however acquire no direct ownership of agricultural land, unless there is a special permit from the Office.
The current situation of the real estate market is weak. Data from the State Statistics Office indicate that the average price per square meter currently stands at around 800 euros. Last year the price fell by 0.9% (adjusted for inflation), while the maximum price was in the capital Skopje. In recent years, the government has taken steps to stimulate demand for housing through subsidies. Forecasts signal an increase in demand and consequently a price increase.
VAT on the exchange of immovable property or rights amounts to between 2% and 4% of the market value and is paid by the buyer. In the construction of residential buildings, VAT is 18% on the first invoice within 5 years.
Normally, the brokerage fees amount to approximately 2% of the value of the house or land, and are usually paid by the seller. The notary fees are set by law and vary between 0.10 and 1%, depending on the value of the property. Sales contracts must be set up by a lawyer. The registration fee of a property is approximately 0.10%, whereby this is often negotiable. The registration of a property takes on average 29 days.
There is no restriction on the founding of a 100% company. Registration is via one-stop-shop system, which takes about 4 hours to process. The average cost of registration is 80 euros.
As a result of the increasing capitalization in recent years, the level of liquidity has stabilized. The exchange rate risk is minimal, the exchange rate policy of the denarius is largely fixed in comparison to the EURO.
The banking industry in Macedonia is characterized by anonymity and confidentiality. In Macedonia, there is no obligation for the transfer of bank information between countries, neither through the automatic exchange of information (OECD), nor a tax information exchange agreement (TIEAs).
Persons with permanent residence or a stay of more than 183 days within 12 months in Macedonia count as taxpayers.
If you have further questions about Citizenship Program North Macedonia or any other concerns, please contact us.
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